How to Keep Your Top Employees From Joining a Competitor
Are you superstitious enough to believe that bad things happen in threes? If three or more of your key employees have walked out the door and did not come back recently, you don’t just have a case of bad luck. You may have a retention problem, and it’s one you need to address before you lose anyone else. Late last year, TINYpulse released the results of a survey they took on what makes employees stay. Read on to find out if you have the right stuff in your organization.
Most of us realize it’s likely a combination of the work, the culture and the compensation that appeals to employees. But the TINYpulse data shows exactly what it is about the culture that might drive away your top performers. On a day to day basis, employees like to feel they have control of their responsibilities. They appreciate breathing room and the freedom to make their own decisions about work. This autonomy goes a long way toward giving the best workers ownership over a task.
If your managers are micromanaging their employees, they risk losing them. Employees who feel like the boss is constantly looking over their shoulders are 28% more likely than other employees to give their notice and move on.
Boost Professional Development
It might be a great deal for you as a manager to have a star employee in a role for several years. As long as that person is toiling away, you never have to worry about whether the job is getting done and getting done on time. But, it’s a good idea to consider this situation from the employee’s perspective. Chances are she’s working hard to impress you because she wants more opportunity.
The TINYpulse survey results shows that employees who are offered external professional growth opportunities are 10% less likely to leave than other employees. They recognize that the company is investing in them and values them. Similarly, employees also like to be cross-trained within the company. Spending time to cross-train an employee tells him that you potentially see him in another role in the future. The investment shows you have confidence in their abilities and plan to expand their responsibilities in the future.
Check out the rest of the TINYpulse survey results to see if there are other steps you can take to hold onto your top performers.